Tag Archives: economy

Robust Monthly Jobs Report “Smashes Expectations”

Yahoo Finance reports: The May jobs report released Friday showed the US economy remains strong with more than 300,000 jobs created last month, while the unemployment rate rose to 3.7%. The US economy added 339,000 nonfarm payroll jobs last month, data from the Bureau of Labor Statistics showed Friday. This marks the 14th-straight month that job creation came in above …

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Labor Department Issues Robust April Jobs Report

CNBC reports: Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics. The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level …

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Labor Department Issues Strong Jobs Report For March

Axios reports: The U.S. labor market continues to add jobs at a strong pace: Payrolls rose by 236,000 in March, while the unemployment rate ticked down to 3.5%, the lowest level in over a half-century, the Labor Department said on Friday. Employers still have plenty of demand for workers, despite aggressive efforts from the Federal Reserve to cool off the …

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Feds Report Inflation Eased Slightly In February

Yahoo Finance reports: Inflation showed continued signs of cooling off in February but remained stubbornly high and well above the Federal Reserve’s 2% target in the year’s second month, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) revealed headline inflation rose 0.4% over last month and 6% over the …

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Labor Department Issues Strong February Jobs Report

The New York Times reports: Employers added 311,000 jobs in February, the Labor Department reported Friday, continuing a hotter-than-anticipated streak that has created abundant opportunities for job seekers while frustrating the Federal Reserve in its drive to contain stubborn inflation. The unemployment rate ticked up to 3.6 percent, still an exceptionally low level brought about both by robust job creation …

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CA Population Down 500K Since Start Of Pandemic

The Los Angeles Times reports: The California exodus has shown no sign of slowing down as the state’s population dropped by more than 500,000 people between April 2020 and July 2022, with the number of residents leaving surpassing those moving in by nearly 700,000. The population decrease was second only to New York, which lost about 15,000 more people than …

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Fox Hosts “Gobsmacked” By “Blockbuster” Jobs Report

Mediate reports: Fox Business anchor Maria Bartiromo let out a “Wow!” as Fox Business Network correspondent Cheryl Casone ticked through a January jobs report that had the entire panel gushing and saying they were “Gobsmacked!” Friday morning saw the release of a new jobs report from the Bureau of Labor Statistics that showed 517,000 jobs added, nearly tripling expectations. Including …

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517,000 New Jobs In Stunning January Labor Report

The Washington Post reports: The labor market shattered expectations in January, as the economy added 517,000 jobs, despite tens of thousands of layoffs in the tech sector. The unemployment rate dropped to 3.4 percent, according to data released Friday from the Bureau of Labor Statistics, reaching a new longtime low. The uptick in high-profile layoffs has not been reflected in …

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Commerce Dept: Economy Saw Solid Growth In Q4

The New York Times reports: Economic growth remained solid at the end of last year as the strong job market and cooling inflation allowed Americans to keep spending despite fears of a recession. U.S. gross domestic product, adjusted for inflation, increased at an annual rate of 2.9 percent in the fourth quarter of 2022, the Commerce Department said Thursday. That …

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China’s Population Declines For First Time In Decades

The New York Times reports: The world’s most populous country has reached a pivotal moment: China’s population has begun to shrink, after a steady, yearslong decline in its birthrate that experts say is irreversible.  The government said on Tuesday that 9.56 million people were born in China last year, while 10.41 million people died. It was the first time deaths …

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Labor Department Issues Strong December Jobs Report

Axios reports: Employers finished the year with a burst of hiring: The economy added 223,000 jobs in December, while the unemployment rate fell back to a half-century low of 3.5%, the Labor Department reported on Friday. The labor market is still chugging along with healthy demand for workers, the latest sign that the economy is holding up despite recession fears. …

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Gas Prices Now Lower Than Before Russia-Ukraine War

Axios reports: The average cost for a gallon of gas in the U.S. has dropped below the price it was before Russia invaded Ukraine earlier this year, according to AAA. It is the first time since February that gas prices cost less than $3.50 per gallon, a significant decrease from record prices in the summer. A gallon of regular gas …

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NYC Ties With Singapore As World’s Most Expensive City

The Guardian reports: New York was the world’s most expensive metropolis in 2022, sharing the unwanted title with Singapore, as soaring energy prices doubled the inflation rate across the major global cities, according to the Economist Intelligence Unit’s annual survey. Last year’s leader Tel Aviv dropped to third, while Sydney snuck into the Top 10 and Moscow and St Petersberg …

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Record $9.1B Spent Online By Black Friday Shoppers

Axios reports: A record $9.12 billion was spent online for Black Friday, with electronics driving much of the growth compared to last year, according to new Adobe Analytics data. These record-breaking sales happened amid rising concerns about inflation and the cost of living. Purchases on electronics led the way, soaring by 221% compared to an average day in October. Smart …

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Biden Gets Solid October Jobs Report Before Election

Business Insider reports: October was another strong month for the US labor market even as recession fears for next year continue. The country added 261,000 payrolls in October according to data released Friday by the Bureau of Labor Statistics. Economists surveyed by Bloomberg forecasted payrolls to rise by 200,000. The unemployment rate was 3.7% in October, up from September’s 3.5% …

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Biden Gets Good News On Q3 Economic Growth

CNBC reports: The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing inflation fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for …

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CA To Pass Germany As World’s 4th Biggest Economy

Bloomberg News reports: California’s economy has proven relatively resilient, first through the pandemic and now through the current period of elevated inflation. So much so, that the Golden State’s gross domestic product is poised to overtake Germany’s as the fourth largest in the world after the US, China and Japan. It had already leapfrogged Brazil (No. 7) and France (No. …

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Social Security Benefits To Increase 8.7% In 2023

From the Social Security Administration: Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January. Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price …

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Labor Dept Issues Strong Jobs Report For September

CNBC reports: Job growth fell just short of expectations in September and the unemployment rate declined despite efforts by the Federal Reserve to slow the economy, the Labor Department reported Friday. Nonfarm payrolls increased 263,000 for the month, compared to the Dow Jones estimate of 275,000. The unemployment rate was 3.5% vs the forecast of 3.7%. A drop of 25,000 …

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EU Inflation Topped 10% For August Versus Last Year

Courthouse News reports: Inflation in the 19-nation eurozone rose to 9.1% in August, up 7.1% from just a year earlier, according to data released Friday by Eurostat, the EU’s statistics agency. It remains 1% lower than the 10.1% inflation rate across the broader 27-member EU, which recorded a rate of just 3.2% in August 2021. The latest EU rate broke …

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